(Vietnamplus) – The World Football Federation (FIFA) will offer a 1.5 million USD bailout package to each of its national football federations in Southeast Asia, including the Vietnam Football Federation (VFF), to offset losses caused by the coronavirus pandemic.
Of the package, 500,000 USD will be used to develop women’s football.
Le Hoai Anh, VFF General Secretary, said the money is necessary for the member associations.
Due to COVID-19 pandemic, football games were suspended causing a deficit in revenue related to television rights, ticket sales, and sponsorship deals.
FIFA’s support will help countries maintain operations and continue to invest in targeted projects.
Around 500,000 USD will be given out in early September and more at the beginning of 2021.
From 2001, VFF has been granted 200,000 USD a year by FIFA. Part of this grant was used to build its headquarters in 2001, build a training ground at the Vietnam Youth Football Training Centre and invest in youth football.
This annual payment is not related to the latest disbursement of funds FIFA will allocate.